Fishermen’s Village, the iconic waterfront shopping and dining destination, is under contract and entered the due diligence phase. The buyer was one of the 12 bidders in September during the property’s first call for bids, said Ashley Bloom, managing partner at SVN Commercial Partners.
Bloom didn’t disclose the party’s name, or the amount offered.
Fishermen’s Village, constructed in 1980 on the site of early 20th century fish packing plants, has 85,549 square feet of retail space, 47 hotel rooms, a marina with 116 wet slips and 604 parking spaces, plus an adjoining marina.
At a May 7 Punta Gorda City Council meeting, council member Jeannine Polk hinted a sale was imminent and said the city owns two parcels of land in Fishermen’s Village’s parking lot. She asked whether the city should have that land appraised should the sale go through.
As bids to purchase the property were being reviewed in September during the property’s first call for bids, Hurricane Helene slammed the city Sept. 26 followed by Hurricane Milton on Oct. 10, the latter of which caused extensive damage to the shopping center from storm surge.
Although the mall is built on stilts and elevated, water seeped underneath the structure and degraded the electrical and HVAC systems, shutting down shops.
Fishermen’s Village reopened to the public Nov. 1, but some shops remained closed longer.
Fishermen’s Village was previously owned by Jonathan Larmore, CEO of Arizona-based Arciterra Companies LLC, who was removed from control of the property in favor of court-appointed receiver Jeffrey Kolessar of PGFL Associates LLC in October 2023.
Larmore, of Punta Gorda, lost control of Fishermen’s Village and other shopping malls and properties across the nation after facing federal charges.
He purchased Fishermen’s Village for a reported $8.1 million in 2012 but later filed for bankruptcy for his various holdings, including Fishermen’s Village.
Once Fishermen’s Village is sold and after closing costs and other fees associated with the transaction are paid, the first portion of the sale will go toward satisfying Larmore’s loan. After that, other creditors and those with claims against Larmore will be paid, Bloom said last year.
Larmore’s original plan for Fishermen’s Village was to build high-rise condominiums and a hotel with an entrance in front of the property on Marion Avenue.
There was a community outcry over the plans and a grassroots movement evolved, resulting in several residents running for City Council.
Those former candidates now comprise the majority of City Council.
